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Greymouth Star
Saturday Afternoon
Saturday, August 9, 2014 - 7
I
t was 1984. Roy ’s Furnishings had
waterbeds on special ($400), the Cobden-
Kohinoor Rugby League Club was
preparing for its Miss Cobden-Kohinoor
contest (tickets $6) and Graham
Electronics in Hokitika had a colour tv for
“only” $899.
You could buy a two-bedroom home in Karoro for
$32,000. Three bedrooms in Perotti Street? $31,000.
Bach at Punakaiki? Why, $20,000 will do, thank you
very much.
Fast for ward five years to 1989. A three-bedroom
A-frame house with lake views at Moana was listed
for $80,000. At Runanga, a house in Pitt Street
was listed for $25,000 or one just up the road at
McDougall Ave in Dunollie for $32,000.
Clough Road, Paroa? Three
bedrooms, nearly-new home for just
under $90,000. You could go over the
$100,000 mark for a house in Doyle
Street, Blaketown or a property at Point
Elizabeth.
By 1994 many prices are now over the
$100,000 mark — but a fair number
are still below. Character home in Lydia
Street? $125,000. Almost new home in
the relatively new subdivision at Stanton
Crescent? $155,000. A house on Lydia
Street is just $125,000.
By 1999, Greymouth house prices had
pierced the $200,000 mark.
An “executive” property was listed at
$238,000 in Karoro, and the “octagon”
home at Omoto was listed at $126,000.
Bargains were still to be had, though,
such as a $44,000 house in Nelson
Quay (complete with ‘upmarket kitchen’
and aluminium joinery).
The first sections in the Marsden
subdivision were listed for sale, from
$42,000 to $49,000.
By 2004, the Greymouth Star was printing in
colour, which made real estate advertisements more
lively.
A tidy house in Reid Street, Blaketown, listed at
$85,000 was under offer. Up on Stirling Drive, Arnott
Heights, a sea view could be had for $169,000.
Then in 2009, when Spring Creek was booming
and new mines were being developed, the real estate
market was going through a once in a generation
boom, and new players had come to town.
Mike Greer Homes were offering a
house and land package at Paroa Estate for
$328,000, Moana prices were eye-watering
(what ’s $500,000 between friends) and
Stanton Crescent had a home listed for close
to $500,000.
The bargain homes are gone — Cobden and
Blaketown houses also are selling at well over
$150,000 (one Firth Street home was listed at
$235,500) and empty sections on Welshmans Road,
at Rutherglen, were going for at least $150,000. For
those willing to think outside the box, the old Ahaura
church was listed at $45,000.
Despite the steady increase in property prices, to
quote a Hebrew proverb: “He is not a full man who
does not own a piece of land”.
Greymouth
Greymouth
property ladder
1984-2009
“It seems an incredible value for a section out there.” So said Iveagh Bay bach owner Ian
Barnett in 1989. He had just learned of his new lease, based on a revaluation of his land
which had been calculated at $12,800. With lakefront sections at desirable Iveagh Bay now
worth more than $250,000, LAURA MILLS checked out the good old days not so many
years ago when you could buy a house for five figures — and still have change.
1989 — This Fryberg Terrace home was priced at
$72,000.
2009 — This Firth Street, Cobden home was $235,500.
2004 — This Reid Street, Blaketown home came in at $85,000.
1999 — $159,500 would get you this home in Karoro.
1989 — $69,500 was the asking price for this Omoto Road home.